After a long career at Barron's, I joined Forbes as San Francisco bureau chief in December 2010. I've been writing about technology and investing for more than 25 years. With the Tech Trade, I've picked up where I left off when I was writing the Tech Trader Daily blog at Barrons.com. When I'm not working, you can find me riding my road bike around the Bay Area hills, managing my fantasy baseball team, rooting for my beloved Phillies and Eagles and hanging out in the Valley with my family. You can follow me on Facebook, on Twitter (@savitz), and on Google+.

Cree Boosts March Quarter View; Unveils New LED Bulbs

Cree this morning raised its guidance for its fiscal third quarter ending March 31.

For the quarter, the LED lighting company now sees revenue of $335 million to $350 million, up from a previous range of $325 million to $345 million. The company continues to target non-GAAP gross margin of 39.5%. The company now sees non-GAAP profits of 31-36 cents a share, up from a previous range of 30-35 cents.

The company also announced a new line of LED bulbs at price points it contends will be low enough to give consumers a reason to switch to LED lighting.

Cree is offering a 40-watt warm white replacement bulb at $9.97, with a 60-watt warm white bulb at $12.97 and a 60 watt day light at $13.97. The company claims using Cree’s LED bulbs in a home’s five most used light fixtures can save $61 a year in electricity costs.

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